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JOURNALS // Matematicheskie Zametki // Archive

Mat. Zametki, 2018 Volume 103, Issue 3, Pages 445–459 (Mi mzm11913)

This article is cited in 4 papers

A Model of Random Sales

I. G. Pospelov

Federal Research Center "Computer Science and Control" of Russian Academy of Sciences, Moscow

Abstract: It is shown by using a model that even a minor change in prices made by the seller is sufficient to coordinate the actions of independent purchasers so that they act as a single economic agent pursuing the aim of maximizing the effective utility function.

Keywords: utility, trade, jump Markov process, Bellman equation, asymptotics of frequent sales.

UDC: 519.86

Received: 26.04.2017
Revised: 27.08.2017

DOI: 10.4213/mzm11913


 English version:
Mathematical Notes, 2018, 103:3, 453–465

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© Steklov Math. Inst. of RAS, 2025